Search the web
Welcome, Guest
[Sign Out, My Account]
EDGAR_Online

Quotes & Info
Enter Symbol(s):
e.g. YHOO, ^DJI
Symbol Lookup | Financial Search
SAH > SEC Filings for SAH > Form 8-K on 5-Aug-2013All Recent SEC Filings

Show all filings for SONIC AUTOMOTIVE INC

Form 8-K for SONIC AUTOMOTIVE INC


5-Aug-2013

Entry into a Material Definitive Agreement, Financial Statements and Exhibit


Item 1.01 Entry into a Material Definitive Agreement

On July 31, 2013, the Registrant entered into an amendment ("Floorplan Facility Amendment") to its Amended and Restated Syndicated New and Used Vehicle Floorplan Credit Agreement, dated as of July 8, 2011 ("Floorplan Facility"), with Bank of America, N.A., as administrative agent, a lender, new vehicle swingline lender and used vehicle swingline lender, and JPMorgan Chase Bank, N.A., Wells Fargo Bank, National Association, US Bank, National Association, Capital One, N.A., Mercedes-Benz Financial Services USA LLC and Comerica Bank, as lenders, and Wells Fargo Bank, National Association as letter of credit issuer. The Floorplan Facility contains certain financial covenants that require compliance by the Registrant with specified ratios, including a consolidated liquidity ratio.

The Floorplan Facility Amendment increased the size of the Floorplan Facility by $25 million to $525 million and reduced pricing by 25 basis points on new vehicle and used vehicle lines. In addition, the Floorplan Facility Amendment made conforming changes prompted by the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Basil III accords of the U.S. Federal Reserve.

The foregoing summary is qualified by reference to the full text of the Floorplan Facility Amendment, a copy of which is attached to this Current Report on Form 8-K as Exhibit 99.1.



Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

99.1    Amendment No. 3, dated as of July 31, 2013, to Amended and Restated
        Syndicated New and Used Vehicle Floorplan Credit Agreement with Bank of
        America, N.A., as administrative agent, a lender, new vehicle swingline
        lender and used vehicle swingline lender, and JPMorgan Chase Bank, N.A.,
        Wells Fargo Bank, National Association, US Bank, National Association,
        Capital One, N.A., Mercedes-Benz Financial Services USA LLC and Comerica
        Bank, as lenders, and Wells Fargo Bank, National Association as letter of
        credit issuer


  Add SAH to Portfolio     Set Alert         Email to a Friend  
Get SEC Filings for Another Symbol: Symbol Lookup
Quotes & Info for SAH - All Recent SEC Filings
Copyright © 2014 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service
SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. By accessing the Yahoo! site, you agree not to redistribute the information found therein.